THE FIRST LIFESTYLE MAGAZINE FOR PEOPLE IN FINANCIAL SERVICES
THE CRAFT OF LIVING NETWORKED CAPCO MON PARIS TOMORROW IS TODAY
capco.com
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02
Rycharde Hawkes. hp labs.
Š2002 Hewlett-Packard Company
Ever waited for a bus in Helsinki in December? Trust us, it’s cold—a nice place to visit but no place to wait for a bus. So when Rycharde invented a way to track city buses using your mobile phone, Finland seemed the perfect place to test this mobile e-services breakthrough. You just enter your stop’s name to get your bus’s actual arrival time. Or program your phone to ring when it’s time to head to the bus stop. So you can spend less time waiting for the bus and more time doing anything else someplace warm. www.hp.com
Content 009 017 020 025 036 040 045 050 059 062 066 074 076 079
The craft of living Music for chaises longues Vis à vis The inside story Tomorrow is today networked Capco It’s the spark in their eyes Mon paris What moves them? An innovation in innovation Launched Looking toward the future – then looking back A place in time Hidden treasures
Architect Fabio Novembre provides light Pull up a chair, relax Two right angles Everybody eats An interview with Capco Chairman and CEO Rob Heyvaert Strategy for growth Human potential: unlimited Photographs by Jan von Holleben International travelers talk about home Of links and minds Capco employees in GSUS Poetry by Don Rearden Instant reflect Special places in Capco cities
Who said a high IQ can’t be found in a beautiful body ?
Take a different route. The new HardliteÂŽ. Rigid skeleton and lightweight soft sides. A truly gifted business case. www.samsonite.com
This magazine was created by Capco. THE CAPCO TEAM Art Director Kristien Cornette Editor Lane Mitchell WRITERS Thierry Goedseels Kristien Gruwez Philip Hunt Brian O’Connell Don Rearden Dianna Rienstra PHOTOGRAPHERS Layla Aerts Robert Bailey Marie Barlois Nina Büsing Chris De Backer Greet De Gendt Alberto Ferrero Eric Christopher Foo Ilse Goris Mikael Gothage Bart Heynen Jan von Holleben Marieka Kaye Senta Kochanek Amanda Lang Maher Jeanne Püttman Arno Roncada Thierry van Dort Muir Vidler PHOTOGRAPHY COORDINATION woowoos, Ghent, for Young Photographers United REALIZATION Cypres, Brussels: Design Mastic, Pang Ting Wai, Gudrun Somers Illustrator Sander Vermeulen Printing Stockmans, Antwerp The editorial team wishes to thank: Kim Everette, Nick Hahn, Rob Heyvaert, Jef Peeters. Special thanks to Unlimited PR (Antwerp) and Modapart (Antwerp) for Gsus.
© 2002 The Capital Markets Company, N.V. All rights reserved. This book may not be duplicated in any way without the express written consent of the publisher except in the form of brief excerpts or quotations for review purposes. Making copies of this book or any portion thereof for any purpose other than your own is a violation of copyright law.
SCHWUNG!!!!
COVER PHOTO CREDITS Concept & art direction: Franky Claeys Model: Koen Leroux Photographer: Greet De Gendt Koen is dressed by Dirk Schรถnberger.
For all their many predictions about culture and technology, not one of the 74 noted social commentators asked in 1892 to forecast life in the next century mentioned the automobile. Sure, they saw a great era for South America, increasing power for women and belief-shattering advances in medicine. They even predicted that men would wear fewer clothes and economic laws would govern an emerging global society. Yet, they couldn’t see life with automotion. Nicolas Joseph Cugnot, the French minister of war, saw it. He created a three-wheeled, steam-powered car in 1771. A century later Germans Gottlieb Daimler and Wilhelm Maybach saw it, too. The Daimler of 1889 ran on a 1.5hp, twocylinder gasoline engine. But, the automobile remained largely a novelty until 1908, when Henry Ford of the U.S. found a way to bring it to life. He invented the automotive assembly line. Those who shape life take leaps that others can’t imagine. So whether your passion is photography, travel, or fashion – take off. Fly. The editors
WE WERE CALLED TO NATURE’S DUTY | SPRING/SUMMER COLLECTION 2002
V.D.V. AGENCY – Tel. +32-3-2812404 – Fax +32-3-2812404 – www.closed.com
“I
BELIEVE THAT INTELLIGENT ENVIRONMENTS CAN ONLY SPRING FROM INTELLIGENT
SPHERES. IT'S NOT A PROBLEM OF ARCHITECTURE, IT'S THE CRAFT OF
LIVING.”
FABIO NOVEMBRE
Photography Alberto Ferrero
2001 - Barcelona - showroom - Bisazza
Italian architect Fabio Novembre’s poetic interiors for shops, restaurants and bars are a delight to the senses. They stir the imagination and carry the observer away into a fantastical landscape of images and contrasts — light and shadow, black and white. It’s poetry, his personal statement. Capital interviewed Novembre in Milan, where he works and lives.
I BELIEVE IN ARCHITECTURE
PLACE
I’m interested in SHOPS as places for communication, places where energy flows and you can PARTICIPATE in that flowing. Nomads by choice/pioneers by necessity ... in this condition of nomadic survival my HOME is inevitably my BODY.
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MOSAICS Mosaics catch the light and break it, in making the light refract. La frattura della luce, la vulnerabilità della luce. Light is liberated, gets free when — and only if — broken.
1999 - Milano - bar restaurant - Shu CafĂŠ
AS A MEDIUM OF COMMUNICATION
LIGHT
Light interests me as a carrier of shadow. I try to recreate a mutable theater of shadows, offspring of mystical opacity in my works.
Are colors merely different luminous frequencies? Are materials merely different combinations of molecules? If you take off the glasses of poetry in looking at things, everything will look sterile. Poetry is the palette.
I live in my time. I do not miss oil lamps. The flashings of neon hypnotize me just as much as the flames in a fireplace. Electro-luminescence, for me, has the same intensity as burning coals, and fiber optics enhance the possibilities offered by traditional candlelight. Modernity widens the horizons of the possible in pursuit of the imaginable.
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BE YOUR OWN MESSIAH ◊Transform needs into desires. ◊Take responsibility for being yourself and deal with it: maximum freedom must imply maximum responsibility. ◊Declare the potential perfection of human beings.
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2000 - Olbia - hotel - Li Cuncheddi1997 / Lodi - disco - Blu
I WANT TO BREATHE TILL I CHOKE
WAITING LEADS TO NOTHING
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www.novembre.it Capital 14
2002 - Barcelona - showroom - Bisazza
I WANT TO BREATHE TILL I CHOKE
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LOUNGE MUSIC
Music for chaises longues Chanel. DJs like Dimitri from Paris were making up more of a musical accompaniment than a ‘mix’ as such. At the same time, another musical trend – downtempo – was seducing tired clubbers together with a new public who were being put off by jerky and simplistic beats. The lounge trend was inspired by it, drew certain new ingredients from it and, little by little, left the worlds of easy-listening and exotic sounds of its origins to turn towards music that was more up-to-date.
Lounge … a word that evokes plush salons, lazy afternoons or a cozy bar. The music for these places had still to be created. As for its name, it had already been found.
When electronics pay court to jazz and bossa-nova Lounge music is above all a question of atmosphere. Musical cocktail is conceived as a sound décor. Wallpaper colored with Brazilian rhythms for tastefully furnished interiors, hedonistic sushi bars and cozy restaurants. For those times when the day’s work is done and
the evening sun dapples the leather Chesterfield. Not to mention those nights when an infinite variety of long drinks follow one upon the other in endless succession. There isn’t a fashionable bar worthy of the name today that doesn’t play this music with its warm and seductive rhythms. However, the first wave of lounge music didn’t appear just yesterday. In fact, just before the Beatles swept the world, exotic sounds coming from all corners of the globe had already been imported into Britain, homogenized to the tastes of the public at large and transformed into instant commercial hits. Lounge music made its first major comeback towards the middle of the nineties. A touch of ‘lift music’ à la Burt Bacarach, a sprinkling of bossa-nova or cha-cha, a soupçon of soundtracks from Italian films of the 60s … The foundations had been laid, and lounge music was reinvented. It soon found its way into the select circle of the happy few, heard at fashion shows given by great designers such as Karl Lagerfeld and
Sofa house and cocktail jazz Since the arrival on the electronic scene of genuine musicians – notably those coming from the jazz world – who favored live instruments to samples and mechanical beats, lounge music has taken on a new lease of life. The trend has been spreading at the same time as the beat was slowing down, and today lounges are flavored with all kinds of sauces, cleverly accommodated to the exclusive attention of Epicureans in love with voluptuousness and sensuality. Brazil is never far away, nor are the chaises longues. So, sit back, relax & enjoy …
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Dimitri From Paris Sacrebleu (Yellow Productions) Garçon? Another cocktail, please!
Lounge Selection
Thievery Corporation: Sounds from the Verve Hi-Fi (Universal) Brazilian flavors selection from the trend-setter jazz label of the 60’s
Eighteenth Street Lounge Soundtracks Jet Society (ESL Music) One for the dining room
Lounge Clubs
Hi Fidelity Lounge (Guidance Recordings) Hi quality downbeat masters
Kruder & Dorfmeister: K&D Sessions (Studio K7) Makes your Sunday mornings just… perfect!
Paris Hôtel Costes 239 rue St-Honoré Amsterdam Supperclub Jonge Roelensteeg 21 London Light Bar (designed by Philippe Starck) St Martins Lane Hotel 45 St Martins Lane
New York Church Lounge (Tribeca Grand Hotel) 2 Ave. of the Americas
Vienna Klub Shabu (Karlsplatz Cafe) Karlsplatz
La Belle Epoque 827 Broadway
Copenhagen Rust Guldbergsgade 8
We spoke with two of Capco’s most senior partners — who together have a half-century of experience in financial services — about industry transformation and Capco’s role in shaping the industry’s future. Vice Chairman Michael Enthoven takes the perspective of an industry veteran. President Bill Irving speaks from his experience as a consultant to the financial services industry.
Michael Enthoven, Vice Chairman, Capco Michael spent 22 years of his career before joining Capco at J.P. Morgan, where he was Head of Global Technology and Operations and Chief Information Officer. Before that, he served as Co-Head of the Global Markets Group, Co-Head of European Corporate Finance, and Head of the Swaps Group. Michael also served as a member of the New York ClearingHouse Association and the Federal Reserve Bank Payments Risk Committee.
On the industry The industry today is facing an unprecedented set of risks and challenges due to a confluence of events. We are coming from a period of extremely high economic activity, as well as technological change that’s best epitomized by the Internet and dot com bubble. This has affected our industry in several very profound ways. First, the financial services industry, including the asset management industry, built up significant risk positions in the telecom industry by way of loans, venture capital, private equity investments and, more generally, large exposures in technology-focused investment funds or overall exposure to the NASDAQ. We have witnessed an implosion of economic activity, probably comparable to the implosion that Japan experienced in the late eighties, and our industry is obviously licking its wounds in different ways from this dramatic experience. Credit risk is enormous. Credit write-offs are enormous. Venture capital write-offs are enormous. There is less corporate finance business: IPO, M&A, and underwriting business. The Enron collapse and the events transpiring in Latin America and Argentina exacerbate it. There are several seminal regulatory developments on the horizon that will provide another set of challenges for the industry. Not only will the Enron aftermath result in very different accounting requirements: disclosure requirements and a clampdown on structured finance and derivatives transactions. But we also have Basel II, the European regulatory change that will require the banking industry to maintain much higher capital ratios. This is where the industry is today: grappling, struggling with dramatic experiences.
On technology Financial services is really, in its barest essence, about two competencies. One is the ability to access and accept risk, to underwrite risk. The other is providing information — information about risks, information about clients’ financial positions. This is an industry that is significantly impacted by accelerating technology, in terms of better, faster, more reliable information, as well as the increasing need to use technology to make productivity gains. It is a business that, over time, becomes more commoditized and needs to make productivity gains — through economies of scale and better application of technology — to deal with pricing pressures. On product innovation Product innovation is one of the necessities of this business because the center of gravity of the industry is always moving towards commoditization; so you need to counter that with product innovation. Our business model, our integrated capabilities in terms of thought leadership, business strategy, software, sourcing alternatives, operating model alternatives, and even ventures are key ingredients in helping our clients with product innovation.
A half-century Capital 20
of combined experience, two complementary views
Bill Irving, President, Capco With 25 years of consulting experience, Bill was formerly the Global Leader of Capital Markets Management Consulting Services at PricewaterhouseCoopers (PWC). He has also held positions at Marine Midland bank; Peat, Marwick Mitchell & Co.; Irving Trust Company; and RoyalGlobe Insurance Company. He is a member of the Securities Industry Association (SIA).
On the industry The financial services industry, as a whole, has to balance supply and demand. The industry is rapidly increased capacity, much of it around the hypotheses of ever-growing demand for new product origination, trading activity, and overall transaction volume. These hypotheses were not completely proven, and as a result, we are now in a situation where we must assess our future capacity needs. This assessment is not just about ratcheting back capacity, but also about determining where the demand will be going forward. We have, for example in the U.S., 75 million baby boomers that are now past the wealth accumulation phase of their lives and into the wealth preservation and wealth transfer phases. What are the implications of this change on the equities market, the fixed income market, and mutual funds, for example? A wild card, on the demand side, may be government intervention and policy initiatives. Will President Bush’s proposal to allow individuals to invest certain portions of their Social Security savings in private investment vehicles pass Congress? Will the Enron scandal force substantive change in pension investments? Europe has a similar issue. Will European pension reform follow the same course as the U.S., or will it exhibit a different pattern of investment choices and behavior? Understanding the new demand paradigms will be a critical management challenge over the next few years. On globalization Large institutional players originally drove globalization. They expanded overseas, identified investment and trading opportunities, and facilitated the development of today’s global financial infrastructure. Individuals will play a major role in driving the next phase of globalization. However, significant individual participation in cross-border financial services activity will be dependent on global market reforms, the free flow of information, and continued mobility of labor and leisure. Standards around financial disclosure, price transparency, and market practices will be critical to individual crossborder financial activity. Access to readily understandable and rich flows of information and informed advice will also be critical for individual investors. However, market reforms and information access alone will not drive increased individual cross-border financial activity; continued increase in personal mobility is also required. Travel abroad and work or study overseas provide direct experience in local markets, enabling individual investors to become increasingly more comfortable with their ability to assess international investment opportunities. Right now, despite industry efforts to encourage global investment, a large segment of individual investors do not feel comfortable investing in cross-border assets, especially given the political, economic, and currency risks in many overseas markets. As global mobility increases, the opportunities for individual investors to play a significant role in cross-border financial flows increase as well. For example, I have a colleague who holds a Middle Eastern passport. He has worked his entire life in the U.S. and holds investment assets in the U.S. and real estate assets in Europe, where he plans to retire. I have another colleague who holds a European passport who has worked extensively in Asia and has assets in Asia, the U.S., and Europe for both investment and retirement purposes.
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If you have relatives in Argentina, there’s a good possibility that they are now recommending some pretty good private equity or real estate investments to take advantage of the strength of the dollar. We also have significant amounts of cross-border asset flows arising from the migration of large numbers of workers from developing countries to G-7 economies. A smaller number of workers from developed countries are doing business in the developing economies. If you have spent time in another country, there’s a likelihood that you have financial services attached to it. This is the kind of behavior and thinking that institutions have been doing for years. At the individual level, it is a similar question of experience. With continued global mobility and direct local market experience, more individual cross-border financial activity and opportunity will be available to the financial services industry. On solutions providers The financial services industry requires innovations that mandate the ability to deploy technology solutions aligned with the businesses and markets of industry participants. This means that solution providers have to be in the same markets, understand the markets, understand the businesses, and have their own broad competencies and service offerings. The way Capco is going to meet this challenge is first to broaden our market scale, or our ability to service the industry across segments and geographies. We started out in capital markets and market infrastructure on the securities side; we’ve expanded to the private client, asset management, and corporate banking segments. We are now exploring other segments of the industry, such as the liability side of the insurance balance sheet and retail banking. Capco has a good geographic footprint, mostly in the U.S. and Europe, with an emerging capability in Asia, and we are still growing. However, we are also leveraging our networked Capco partners, particularly HP with its global distribution network, to augment our resources and give us the required global market scale. Successful service providers also need sufficient client scope, or the ability to provide services and solutions across a broad spectrum of needs. Capco must be able to serve its clients from visioning, to designing solutions, to deploying them, to creating new ventures. One element of Capco’s brand was built around thought leadership and understanding the industry: the visioning, strategy, and advisory side of the business. The other element of Capco’s brand is its technology implementation capabilities. Right from the beginning, we had technology competence embodied in our software solution center, where we have developed proprietary technology solutions, such as e-STP, STP Bridge, and Cobass. To grow to the next level and to better serve our clients, we needed to increase our scope, and again we are using networked Capco and our strategic, transaction, and venture partners. networked Capco gives us expanded capabilities in technology deployment; venture capital and incubation; price competitive off shore development; outsourcing and ASP/BSP platforms; and technology architecture and competence. This allows us to compete with the major global solutions providers such as Accenture and IBM.
ARMANDO TESTA - Ph. DAVID LACHAPELLE
The inside story Nothing reveals more about people than
more likely to eat breakfast at home than
The pressures of the job? We took a look
the inside of their refrigerators. A fridge
one who has stale white bread in the
into the fridges of four Capco staff to see
full of cocktail mixer belongs to a different
ice box.
what we would find ‌
type of person than one full of baby
What do refrigerator contents reflect most
formula. A person with fresh croissants is
about a person’s life? Their nationality?
Capital 25
Photography Layla Aerts
Beer (Duvel, Kronenbourg)! ı Wine and champagne ı Martini ı Koffiemelk (nothing like it elsewhere!) ı Apple juice ı Cheeses — incl. Rambol, Philadelphia, Boursin, Emmental, Parmesan ı Veg — Mushrooms, peppers, tomatoes, lettuce and more ı Granny Smith apples ı 15 plus sauces — incl. curry (x 2), mayo, salsa, béarnaise and ‘pikante’!
KOEN DE SMET Consultant Just the choice of beers gives the game away – only connoisseurs know the position of Duvel among good beers. And while on the subject of drinks – there’s nothing quite like Koffiemelk outside of Belgium and Holland. But – what are all those sauces? Seems the owners of this fridge like to cook!
51°13’61’’N 004°25’47’’E / Antwerp
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Photography Mikeal Gothage
Strawberries! ı Philadelphia cheese ı Mushroom stir fry ı Macaroni with tuna ı Greek yogurt, mango/vanilla ı Milk delivered to the door ı Blueberries, grapes ı Olives ı Juices, peach/apricot ı Guacamole ı Nam Pla fish sauce ı Hershey’s chocolate flavor syrup
TONY MALATY Partner Cheese and strawberries both stir the taste buds here, while mushroom stirfry also seems to be a favorite. For the kids, there’s no competition – it has to be macaroni with tuna every time. Are there any national influences? Blueberries are better known in North America than in Europe, and Hershey’s is a real giveaway.
51°30’21’’N 000°05’37’’W / London
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Photography Nina Büsing
Chai tea ı Pressed lime juice ı Champagne — two bottles! ı Mexican beer ı French wine ı Hawaiian Kona coffee beans (frozen) ı Belgian chocolates ı Baby carrots ı Soy ice cream (vanilla) ı A stuffed toy lion?!
LANE MITCHELL Marketing This is a person who’s willing to travel great distances for a good cup of coffee. There’s likely to be a copy of Wine Spectator around somewhere. Two bottles of champagne? You could guess a taste for the high life, or some pretty special parties! But the stuffed toy lion? Now there’s a real mystery.
40°42’37’’N 074°00’47’’W / New York
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Photography Eric Christopher Foo
Green Mangoes ı Chilies, carrots and capsicum ı Soy beans ı Red dates, Barley and Lemongrass ı Chicken ı Prawns and fish ı Ice-cream ı Wine, apple and orange juices ı Green tea
JUNE LEE Business Consultant You can definitely see the flavors of the tropics here. Green Mangoes, Chilies and Lemongrass all capture something of the smells and the sights of the Orient. Yet there’s a western influence too, with wine, ice-cream and yogurt all prominent on the shelves. And of course Green tea, to wind you down at the end of a long day.
01°17’32’’N 103°51’49’’E / Singapore
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info: **32(0)51 26 56 56 www.supermodular.com
in an industry where high expectations abound, some people take larger leaps forward than others tomorrow is today Capital 36
Photography Bart Heynen Capital 37
Rob Heyvaert is inspired by the boundless energy and creativity of his young godson, Thomas, who explores the infinite opportunities life presents us. For the first Capital of this century, we talked to Rob about his ambitions today and his outlook for the future. Moving beyond the threshold of the 21st century requires us to start at Year Zero — a place where a childlike spirit merges with practiced wisdom. This is a place where every experience is ignited by curiosity. And every action leads to discovery. In the new century, mediocrity just won’t cut it. Our world seems the same because many of the old elements remain. But are they still relevant? This age is about being smart and being relevant. Consider what Gucci’s Tom Ford is doing to the world of fashion and design. While everybody was saying that the era of luxury goods had gone, he successfully captured the global mood and is redefining fashion in it. Luxury goods were on the downturn six months before September 11 and designers were scrambling. But now you can see the change in fashion images. They are being recast to reflect our new reality. This reality is not dark and somber. Now, more than ever, is the time to recapture beauty and move forward. It is reminiscent of the late 1940s, when people longed to put the war behind them and for life to recommence. This attitude creates the mood for new opportunity and sets the tone for the future. The analogy applies to our industry very clearly. Yesterday’s technological revolution has opened up endless possibilities for today’s creative thinkers. Wall Street and the global investment community has been shocked by the burst of the technology bubble — almost causing a recession in its wake. Still investors have not lost their appetite for value creation. Bankers have not lost their hunger for good deals. There is still the exciting part of the Internet revolution, i.e. the technology that has opened up totally new levels of connectivity, access and has accelerated speed. Think about it: the bankruptcy of PanAm did not end the airline industry boom. Each innovation, each new wave
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of growth has gone through ups and downs. Such is the process of change. My focus is, as always, on the future and the opportunities it opens up. What makes Capco different is that we are about shaping the future today, very carefully, very strategically. Much as we see leaders like Tom Ford in the world of fashion, or indeed HP in the world of information technology. In this way, we are a step ahead of the pack. I think that is very exciting. I continue to invite people to join this vision, to bring their imagination, creativity and spirit to help us shape our future. But how does this vision translate into a corporate setting where you must balance individual freedom, creativity and imagination with the disciplines and controls needed to run a large organization? What about accountability? I believe that an intelligent, creative, committed person does not flourish in a highly structured, rigid environment. Such people look to work together in teams in a values-driven environment. The synergy generated from this process is the engine that propels us forward. One of our biggest management dilemmas is how to attract and keep good people. We compete in a fiercely competitive employment
imagination are the drivers of a collective vision. Just like energy and commitment will result in a successful enterprise. So in today’s fiercely competitive environment, must each person be both inspired and entrepreneurial? I do not believe there is any other way to succeed. To be inspired, a person must have an open mind, believe in endless possibilities and trust oneself. People can be exactly who they want to be. They can redefine themselves when they feel the need. But they need selfconfidence, the energy to move ideas forward and an empowering environment. This way, they can work together with others to develop creative solutions to meet the challenges of the economy, our ‘new’ political reality and an increasingly global society. Globalization has been the buzzword of the last decade. How do you think its dynamics will affect us in the 21st century? Most recently globalization has raised legitimate fears about sameness, that is, about people and communities losing their identities and thus a level of influence over their own lives. Nobody wants to be the ‘global consumer’. Everybody wants to retain a sense of individuality. All this is
“There needs to be plenty of room for individual spirit: freedom, creativity and imagination, the drivers of collective vision.” market. The first lesson is to cater to their needs and preferences, to provide them with the knowledge and tools. There has to be a degree of coordination and certainly accountability in any organization, but if these dominate, the workplace becomes oppressive, creative spirits are smothered and mediocrity will prevail. Such was the fate of many large multi-nationals of the 20th century. They too are keen to adopt a new spirit, a new culture. They have tended to put a global, corporate culture ahead of individual values. So there needs to be plenty of room for individual spirit: freedom, creativity and
very legitimate since it goes back to culture, language, religion … values overall. We also live in times of great inequity. Poverty too has inspired anti-globalization protests. It is up to us to create an environment in which business can get on with the business of doing business, that is, creating jobs and wealth, while ensuring that people’s needs are met. We must do so in an environment in which people’s values and identities are respected. Both need to be in balance. No compromises, but real balance. Increasingly, people are turning toward their communities and discovering their roots or
inventing a new culture. I believe the 21st century paradigm clearly includes this ‘go local’ phenomenon. It reflects the growing desire of people to have a clear voice in how their lives and their communities are shaped. You hear this echoed in corporate strategies and advertising, in large political forums, in the media, everywhere. And as such, globalization creates a level playing field for all. I see a globalized world held together as a multi-cultural mosaic that recognizes and respects the individual but thrives and learns from its diversity. Thus, globalization is a terrific phenomenon! Consider the impact of the Internet and the connectivity it creates. Marshall McLuhan said a long time ago that the ‘medium is the message’. He believed then that the electronic media were restructuring civilization and that we would soon be living in the ‘global village’. He was right. Information and knowledge are paramount. But community is even more important. The force is not toward ‘same’ but toward ‘equal’. Not one voice for all, but an equal voice for all. Does this mean that people’s values are changing, perhaps converging? People’s outlook on the world may change, but I think their values largely stay the same over time. Our world is constantly changing and so individuals will evolve in how they express themselves, depending on the mood, the times, the circumstances. Everyone wants to be respected for who they are and what they do. The consumer has been king ever since the Internet took off. But the connectivity we are increasingly experiencing is changing our perspective on what is important. People are focusing less on what they have or what they have accumulated, more toward opportunities and what they can do. Is that not placing too much pressure on the individual? We must not lose hope or confidence in ourselves. Conviction and commitment make people very powerful. The challenges of tomorrow can be met today. It will happen because people really have the power to shape their future into what they want it to be.
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Rob Heyvaert, Chairman and CEO, Capco, with his godson, Thomas
Creating a networked Capco At its creation in 1998, Capco pioneered a new and truly innovative business model, offering integrated solutions to the financial services industry. Our mission: to be the acknowledged provider of advanced solutions to the capital markets industry globally. Just three years later, a committed focus on forming the future of finance has begun to prove its power. Our superior thought leadership and industry transforming solutions have made Capco among the most respected services and solutions providers to the financial services industry.
Now, it’s time for the next leap! “Every organization faces critical points,” says Chairman and CEO Rob Heyvaert. “One is at US$ 30 million in annual revenue, the next one at about US$ 100 million. Many young companies fail to make these hurdles or opt for the easy way out by selling out because of need or often because of greed. However the real value for Capco is still to come. We have this year eclipsed the US$ 100 million crest, and I believe we have the talent, the leadership, the brand, and the client access to continue our rapid growth.” Consistent with our original vision and business model, Capco has devised a new strategy to accelerate growth in 2002 and expand its reach and range of offerings: we call it networked Capco. networked Capco is the vision to create a consortium of strong business and technology partners that will jointly pursue business development and market making activities and, as such, combine the offerings of our network partners seamlessly for our clients. Through the network, Capco’s core assets will be leveraged through the complementary capabilities of the strategic alliance partners. “Imagine Capco at the center of a network of leading providers, which we are able to access for vital capabilities like venture capital and incubation; off shore, price competitive development; outsourcing and ASP/BSP platforms; and technology architecture and competence,” says Philip Ghekiere, Capco Partner.
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“We would have all the capabilities that are essential to our business model but very time and cash intensive to create in-house.” Through networked Capco, our strategic business partners will also become stronger. “The basic idea is 1 + 1 = 3,” says Capco Partner Bill Irving. “The unique strengths of each partner, when combined, result in dramatically better solutions that help clients not only keep up with, but stay ahead of, the rapidly evolving financial services industry.” In the coming years, Capco will have extensive opportunities to leverage its networked offerings against the predicted growth of the financial services market. Latest data from Datamonitor indicate that IT spending for the global financial services industry is expected to grow to more than US$ 222 billion by 2005, up from US$ 200 billion in 2000. Of the US$ 222 billion total, more than US$ 60 billion will be allocated to services. (source: Datamonitor, Q1 2002) Capco’s latest alliance with HP Hewlett-Packard (HP) is the most recent addition to networked Capco. On January 23, both Capco and HP announced a strategic alliance to develop customized,
The financial services industry has already poured billions into addressing these issues with business and technology solutions. However, few firms have been completely successful because the technology has not always been linked to the business strategy process. “Financial institutions have historically had difficulty coordinating their business strategies and their systems development and deployment,” says Octavio Morenzi, Analyst, Celent Communications. “This new alliance (between HP and Capco) is designed to allow a seamless integration of business strategy and technology strategy in a fashion that was not previously possible.” As part of the alliance, Capco and HP will focus on solutions for the financial services industry, such as:
large scale, end-to-end business and technology solutions for the global financial services industry. As a sign of commitment to the initiative, HP made a US$ 30 million equity investment in Capco. “Customers will benefit from the synergy of HP’s IT infrastructure, services, and outsourcing capabilities combined with Capco’s business consulting, software components, thought leadership, and industry expertise,” says Arun Oberoi, Vice President and General Manager, HP Worldwide Industry and Corporate Accounts Business. “Both companies will work in close cooperation to develop, market, sell, and deliver comprehensive solutions, which translate business strategies into technology that generates the right results faster.” The alliance allows Capco to position itself in the marketplace to compete for large scale, transformational projects against mammoths, such as Accenture and EDS. Solutions will be developed for the global financial services industry and will currently focus on capital markets, private client services, asset management, and banking clients. Among the key issues these organizations face are: ◊ Straight through processing (T+1,
optimal operating models) ◊ New industry infrastructure (connectivity
and convergence) ◊ Operational excellence (cost and
profitability insight, wealth management, customer compliance, outsourcing) ◊ Changing customer demand (CRM, pricing strategies, strategic marketing, branding)
◊ Transaction processing ◊ Operational risk management ◊ Straight through processing (STP) ◊ Multi-channel distribution ◊ Data management ◊ Operational and financial performance
management ◊ Strategic marketing ◊ Product development ◊ New operating models
“Many vendors claim to have end-to-end solutions that are doomed to fail because they jump right into the technology aspect of the solution,” says Michael McNamara, Analyst, Datamonitor. “The result is technology that has vague ties to business process improvement and, subsequently, fails to produce financial returns.” Addressing key issues facing today’s financial services industry requires a deep understanding of the business purposes to be served by technology and operations, according to Tim Evans, HP’s Worldwide General Manager, E-Financial Services Business Unit.
“Because HP and Capco will bring an aligned approach, customers will have less project risk and will be able to address critical market issues faster, extending their competitive advantage and positioning them for continued global leadership,” he says. Sales teams from both firms will work closely together, providing one face to the customer. Capco will introduce HP to its clients, and HP will introduce Capco to their clients. “During the scoping of a customer engagement, HP and Capco representatives will engage with the customer as members of one team,” says Owen Kemp, HP’s Vice President and General Manager, Financial Services. “Depending on the overall customer need, HP and Capco will then determine which company is better suited to lead an engagement.” Rob Heyvaert says the focus of networked Capco is the financial services industry. “We want to break new ground for the benefit of the industry. Our thought leadership and ability to anticipate industry trends, regulatory changes, and technology advances will enable us to architect and deliver transformational services and solutions that keep our customers ahead of the industry. We are not just responding to RFPs.” Making it work Key to the success of networked Capco is forging alliances with like-minded companies. Capco and HP are a highly complementary match that leverages the unique strengths of each company. Both Capco and HP have similar core propositions. Capco’s mission is to ‘form the future of finance’ and HP’s mission is to ‘invent’. Capco positions itself as a Future Founder. We help create the future state of the industry by solving its challenges and leveraging opportunities to reduce costs and
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“We want to break new ground for the benefit of the industry,” says Capco Chairman and CEO Rob Heyvaert.
increase efficiency. HP is likewise focused on inventing a better future by providing tailored services and IT solutions that satisfy important unmet customer needs. As a tangible example of this alignment, Capco and HP both nurture industry thought leadership through specialized organizations that promote leading thinking and solution advancement. Capco’s Institute, which develops, manages and disseminates the firm’s intellectual assets, is highly complementary to HP Labs, an industrial research laboratory providing technological leadership and inventing new technologies. “If you look at HP and Capco, we are both companies that are creative and innovative in the ways that we organize and use our talent,” says John Owen, Capco Partner. “But companies like HP and Capco also offer each other a great deal of synergy. Sure, we want our employees to succeed, and we spend a lot of time creating ways for them to do that. But we also offer each other something that the other doesn’t have, which is akin to our relationships with our employees. One can help the other in areas of strength. That’s what we’re doing as companies, and that’s what we are doing as business partners.” Importantly, both Capco and HP engage in innovative and breakthrough practices that allow employees the freedom to create and to succeed. “What is taking place in our world today is a fundamental paradigm shift,” Rob Heyvaert says. “The old model of ownership doesn’t work anymore. Companies and individuals alike are seeking a true partnership of shared ownership, a partnership of entrepreneurs. You have to give your employees space to breathe. You don’t have to manage everything yourself.
That might actually be the most important rule of the game for a successful business.” HP Chairman and Chief Executive Officer Carleton (Carly) S. Fiorina has a similar philosophy. “There are some important parts of the old HP that are timeless and must remain,” she said in an October 2001 interview with WorldLink, the publication of the World Economic Forum. "The core values of the firm are respect, integrity, teamwork, contribution. They are a part of the fabric of the business. They are a part of why people join HP, they are a part of why customers trust HP, they are a part of what I call the shining soul of this company," said HP Chairman and CEO Carly S. Fiorina. Expanding networked Capco Both Reuters and GIMV, a leading European venture capital firm, are also currently parts of networked Capco. Just as in the case of HP, Reuters and GIMV will help Capco provide a single, integrated value chain — a powerful combination of business consulting, professional services, technology services, software components, outsourcing and ventures. Reuters, the global news, information, and technology group, joined networked Capco in October 2001. That’s when Capco and Reuters formed a 50/50 joint venture, Synetix, to develop a range of software data management services. The services will enable financial institutions to increase operational efficiency and enhance the straight through processing (STP) of financial transactions. Reuters and Capco each invested £16 million in Synetix. The joint venture’s first product, Reuters Reference Data Manager, was announced in February 2002. The service is designed to increase operational efficiency and enable implementation of enterprise wide data management strategies. The new service combines Reuter’s expertise in defining, managing, and delivering data around the globe with Capco’s expertise in developing STP solutions. It forms part of Reuters Data Management Solutions, which is designed to assist financial institutions by ensuring their data meets the requirements of STP and delivers cost and operational efficiencies. Reuters will sell the range of services developed by the new company and provide global customer support. Capco’s alliance with GIMV, finalized in January 2002, focuses on investments in technology and the financial services industry in Europe. The partnership allows GIMV to access Capco’s thought leadership, deep industry expertise and e-finance investment opportunities. Capco will act as an advisor to GIMV, performing due diligence for investments and also benefiting
from co-investment rights. As part of this agreement, GIMV will introduce Capco to its portfolio companies as the preferred supplier of financial services and solutions. Likewise, Capco will propose GIMV as its preferred private equity partner. Although they are currently not part of networked Capco, we also have alliances with numerous other organizations, including Algorithmics, BEA Systems, FTI, Microsoft, Omgeo, SeeBeyond, and others. These organizations supplement Capco’s existing strengths, expanding technological capabilities and resources. They contribute in areas such as middle office solutions, messaging services, interface software, risk management, and trading platforms. Capco continues to explore opportunities with other industry specialists. “In addition to our networked Capco alliance partners, we have also developed the ability to identify and collaborate with what we call ‘transaction partners’,” says Bill Irving. “These partners include a number of other software and other professional services firms. Our strategic partners, HP and Reuters, also have their individual transaction partners, which opens up our network significantly.” Capco has also developed strong alliances with major academic organizations and business schools throughout the world, including INSEAD, The Wharton School of Business, and Oxford University. These alliances supplement Capco’s deep thought leadership and knowledge of the financial services industry. They also augment our efforts to provide senior executives with leading thinking that will help them make critical decisions concerning their company’s future. “The world of finance is being transformed at an incredible pace, and technology continues to hold the key to creating tremendous efficiency gains for financial institutions,” Rob Heyvaert says. “A networked Capco with closely aligned business partners, I believe, positions Capco very strongly for industry leadership and long-term growth.”
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IT’S THE SPARK IN THEIR EYES. . .
“We encourage people to think out of the box, do things differently and think globally. The synergy from working this way is unbelievable.”
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You can’t hide a passion. It’s now fair that we give you something back. The new E Class. Capital 46
Model E 220 CDI: CO2 Emission (gr/km): 167 - Combined Fuel Consumption (1/100km): 6,3 - www.mercedes.be - Give priority to security.
Michel Fouquaet talks about his experience at Capco. After more than three years, the former Global Planning and Budget Manager made the transition to Human Capital Manager for Belgium and France at the beginning of 2002. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. What motivates people to work at Capco? The atmosphere. Capco has creative energy, people are entrepreneurial, and they are empowered and driven. As a result, there’s an eagerness to take on new challenges. What Capco people share is the spark in their eyes. We are true and determined professionals who bring expertise and creative vision together. And mostly, we have fun doing it. Clients, suppliers, visitors or other people say they practically ‘feel’ the Capco atmosphere; they tell us that Capco is ‘cool’. The job opportunities in such a young and dynamic company are challenging from an intellectual and entrepreneurial point of view. We went from a start-up company to a phase of massive expansion; last year was the year of consolidation and cost control, and this year we want to grow again. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. ..................................................................................
.................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. How are Capco’s values reflected in the workplace? At Capco, people are our capital, and commitment is a core value. We are committed to making this company work. It is a commitment that we have towards the shareholders, which include both our colleagues and ourselves. We are committed to our clients. We provide value-added solutions, and we work hard to deliver top quality work. Respect and integrity are our two other core values. I see respect as a two-way street, based on mutual trust and honesty. That doesn’t always mean that we agree on everything. Respect is also recognizing that people have differences of opinion. Integrity for me means doing the thing right simply because it is the right thing to do. How can today’s challenge of cultural differences and diversity be turned into an opportunity? Cultural diversity is an integral part of our global framework. When people come together from different cultures and with different perspectives, they learn from each other while developing solutions that are far superior to anything they could do alone. Respecting our cultural differences works to everyone’s advantage. I saw this advantage while working with the global financial analysts team. We had two people in London, four in Belgium and one in the U.S. It was an enriching experience; we even managed to make the time zone differences work to our advantage. Is finding a life-work balance achievable in today’s workplace? It’s everyone’s dream to have an interesting, well-paid job and on top of that life-work balance! I believe it is achievable depending on what you define as your balance. It is also a matter of setting priorities. Mine changed .................................................................................. .................................................................................. .................................................................................. .................................................................................. ..................................................................................
.................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. when we adopted our daughter, Mae, a year ago. It made me realize even more that both the quantity and the quality of time I spend with my family are equally important. Another way I try to find balance is by working out over lunchtime. I use it as a healthy opportunity to focus on something completely different. When I return, my concentration is re-energized. What are the human capital challenges of the future? Our 2002 objective is ‘growth’, which goes beyond growing revenues. In a human context, it is about giving people the opportunity to create a meaningful career and the appropriate training to get there. We need to keep people challenged and anticipate business trends in the financial industry. How do we deliver this? We listen to our people, via one-on-ones, via the ‘capture’ survey, via presentations. We offer the experiences and opportunity they need to deliver quality to our clients and to grow personally and professionally. We encourage people to think out of the box, do things differently and think globally. The synergy from working this way is unbelievable. I find room for unlimited creativity here. The energy is both motivating and cross-fertilizing — and it is highly contagious. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. .................................................................................. Capital 47
www.visionfragments.be
published by www.stockmans.be
mon
paris
The particular charm of Paris. Every time I come here the feeling of this city overwhelms me. Cities can make you feel so small and uncertain — there is so much to learn, so much to discover. When I came to understand how to move, talk and behave here, I began to explore the byways and the different quartiers. This was the starting point of ‘mon paris’, a close-up and non-tourist view of this place.
Photo Jan von Holleben
>>
The outcome, after many weeks exploring every corner of the city, is a particular view of this marvelous place, a juxtaposition of the wonderfully aesthetic contrast between living people and straight architecture. It is a view without Notre Dame, without the Eiffel Tower and all the other celebrities, but it is what makes the feeling of Paris work for me. It is the city’s essence. People and architecture — harmony and conflict. Jan von Holleben
Copyright© 2002. Nokia Corporation. All rights reserved. Nokia and Nokia Connecting People are registered trademarks of Nokia Corporation. Other product and company names mentioned herein may be trademarks or trade names of their respective owners. Specifications are subject to change without notice. The availability of particular product and services may vary by region. Please check with the Nokia dealer nearest you. Operations and some features are SIM card and/or network dependent. The availability of Bluetooth wireless technology may vary by country and Bluetooth products are not approved for use everywhere. Please check with the local authorities. Please check the availability of WAP services with your network operator and/or WAP service provider. Bluetooth accessories are soon available.
Around the world. Around the corner. Connect wirelessly to mobile
Internet services around
the world.* Instantly over
GPRS. Connect wirelessly to your compatible PC
around the corner and up
to ten meters away. With
Bluetooth. Use your laptop to send email while
your Nokia 6310 is in your
jacket pocket – and your
jacket is in the next room.
The Nokia 6310. Connect
around corners – and
connect to services around
the world.
* Phone operates in EGSM 900 and GSM 1800 networks.
www.nokia.be
000 WHAT MOVES THEM…
What moves them… Working in a global economy means we are always on the move. The continuum of time, travel, home, and relationships flows at a different pace. Personal connectivity assumes new dimensions of meaning. Those who embrace this everchanging lifestyle wouldn’t trade it for anything else. In fact, they thrive on it.
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001
WHAT MOVES THEM . . .
WANDERLUST Thérèse de Belder Age: 43 Current position: Freelance photographer, training director
Raised: Antwerp, Belgium Home: New York Education: B.A. University of Antwerp, Belgium
Specialization: arts, romance, linguistics, and literature; education and teaching Work locations: Antwerp, New York, Hong Kong, Japan, rest of Europe Languages: Fluent Flemish,
I moved to New York after seven years of working for Estée Lauder in Brussels, but I kept travelling internationally. My 40th birthday present to myself was to pursue my dream and work as a freelance photographer and continue with Estée Lauder as a consultant. As a child I was always fascinated with travel. It’s an inner drive to explore … I’m a citizen of the world. I love to capture my experiences. On assignment in Japan for three weeks, I shot 500 slides. I am drawn by flexibility and the fact that I can be selective. I enjoy portraits, which is what I did for Capco as part of Young Photographers United. Psychologically, I need a place to rest my soul. Home is New York, although I experience very brief periods of alienation. But it doesn’t last long. This city is about diversity — my group of friends looks like the United Nations.
French, German, and English
Keeping in touch: Personal visits
002
WHAT MOVES THEM . . .
CURIOSITY Gigi Lai Age: 27 Current position: Financial consultant, student
Raised: Hong Kong; Vancouver, Canada; Tokyo Home: Vancouver, Hong Kong Education: Queen’s University (Ontario, Canada); Stern School of Business, New York
Work locations: Malaysia, India, and Hong Kong, all over Asia Languages: Fluent English, Chinese, and working knowledge of Japanese
Keeping in touch: E-mail, mobile phone
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I always travelled with my family, but my first international living experience was as an exchange student in Japan. I am a very curious person and I love learning new things. I submerge myself in a culture, learn the history, the language and make new friends. This has made me an open minded, flexible person. And a wanderer. It’s exciting to work in international teams, which is why I am a consultant. Packing is a five-minute exercise; I have two of everything. I don’t need to work in an office, I can work in an airplane, hotel room or a client’s office. But I don’t think you can be trained for this. It comes from inside. Home is Vancouver where my parents live and Hong Kong. As far as relationships go, I will always want to work internationally, but I would stay in one place for five years. Growing up internationally is an asset for any child. I would go crazy if I wasn’t able to access e-mail or use my cell phone . . . once you hop on the connected lifestyle, you can never go back.
003
WHAT MOVES THEM . . .
FRIENDSHIPS John McBurney Age: 37 Current position: Freelance, advertising, account side
Born: Chicago Raised: Chicago, Singapore, Los Angeles
Home: Frankfurt (Bad Soden)
Education: M.B.A., INSEAD, France
Work locations: Paris, Frankfurt, and Copenhagen, all over Asia Languages: Fluent English, French, German, and Danish
Keeping in touch: Telephone and e-mail
004
WHAT MOVES THEM . . .
Somewhere in my history there is a wandering gene. My ancestors sailed from Scandinavia to Scotland, where they plundered with the best of them. They moved to Ireland for political reasons and then to the U.S. I started travelling abroad as a teenager and have been doing it ever since. I love the expanse of several different cultures because by learning to understand them you begin to understand and appreciate your own. Making my way through and developing new friends in a new culture is always a challenge, but that is what makes it exciting. It takes about eight months and self-confidence. I feel very blessed with my friendships around the world. Home is where I happen to be living. Paris is also home. So is Malibu where my mother is and Copenhagen where my wife and I lived. Now it’s outside of Frankfurt, where we live with two cats, a dog, and a horse. Luckily, my wife’s ancestors were roaming Vikings. In Denmark, it is easy to have an international view of the world because it is a small place. She’s also a traveller. It works.
FREEDOM Peter Zorn Age: 31 Current position: Managing Principal, Capco
Current residence: Sydney and Bangkok
Raised: New York and Antigua, Caribbean
Home: London and Antigua (a home in each)
Education: Economist, Prague, Czech Republic
Work locations: Moscow, Central Europe, Zurich, Bucharest, Ankara, London, Antwerp, Singapore, Sydney, and Bangkok
I need freedom. Freedom to move, to meet new people, be with friends, freedom to live. The more I see, the more I realize I haven’t seen. Yet the world is a small place. I love the global village atmosphere. My job gives me reason and opportunity to meet people. London is my base and the center of my working life. It’s where I keep my treasures, possessions I’ve picked up along the way. But my heart is in Antigua, where I can just lose myself in time. There are no telephones or city water at my home . . . just two dogs, two cats, two turtles, and a bird. It is extremely difficult to maintain a relationship on a global level; but when it works, it is absolutely amazing . . . a special relationship of the highest degree of enrichment.
Languages: Fluent English, working knowledge of Czech, Russian, and Spanish
Keeping in touch: e-mail and mobile telephone
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People are becoming less attached to their automobiles, one of the most common objects of life. That’s because the complex emotional relationship that people develop with their cars is changing more swiftly than the cars themselves. Michael Robinson, Chief Designer, Fiat, refers to this as a ‘comprehension shift’ between man and machine. He believes that car designers will be able to make more personally relevant automobiles with the help of psychologists. Another company has turned to expressionist post-modern architect Frank O. Gehry of Guggenheim Museum Bilbao fame to reinvigorate interest in their automobiles. His ‘out-of-the-box’ prototype reinvents the car as a ‘designed object’ and redefines the customer’s relationship to the automobile. The car will be presented at the Detroit Autoshow in January 2004. Collaborative networks Collaborative networks that unite different viewpoints, experience, and expertise of people are quickly becoming the future of human innovation. This holds true in the apparently different — but not so different —
An innovation in innovation worlds of business, culture, and the arts. Sara Little Turnbull, Director of Stanford Business School's Process of Change, Innovation, and Design Laboratory, studies invention. She says that collaborative networks are needed to address the complex issues of the new century. Working in global teams creates a synergy that cannot be found in hierarchical organizations. Many technology companies founded in the 1980’s are an example. In Silicon Valley, California, groups of people with diverse backgrounds in business, technology, programming, and design formed around commercial ideas. The groups worked together for a period of time and (in some cases) invention unfolded. Once the idea came to market or dissolved, individuals in that group would move on to other ideas and other startup companies. Sometimes, they took a much different role in the new company.
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Why networks work Grant McCracken, a cultural anthropologist at McGill University in Montreal, Canada, says that collaborative networks work because individuals increasingly have expertise in more than one area or discipline. People now expect the world to be a fluid place and to contribute in many different ways. “We are a little astonished to see how various lives can be,” says Grant McCracken, author of Culture by Commotion: An anthropology of American life. “A single self can be a crowded house — sometimes a veritable township — of diversity. What are we to make of the 60s revolutionary, Manhattan stockbroker, and New Age healer when all of them prove to be (Jerry Rubin-like) the same man?” Innovation has also become more of a collective undertaking rather than an individual pursuit, Sara Little Turnbull says. The inventor is no longer seen as a ‘tinker.’ That’s because invention has become more integral in every person’s life and is often a defining characteristic of a distinguished career. New York’s Gertrude Stein Repertory Theatre (GSRT) uses collaborative networks to produce an innovative theatrical technique, ‘digital puppetry’. Digital images from a performer recorded live in Tokyo, for example, are projected onto the body of another actor who is performing live in New York City. Through movement and costume, the New York performer functions as a living animation surface for the projection of human, digital, and animated images.
The technique was invented through a collaboration of specialists in digital encoding and conferencing, digital display technology, Internet conferencing, hardware and software development, television production, Internetbased teaching and knowledge management, and IP-based network messaging. Digital puppetry is opening the door for production of an entire genre of modern theatrical literature; plays developed by visionaries of the late 19th and 20th centuries that resist production with traditional theatre techniques. GSRT’s ‘The Silent Scream of Martha Hersland’ opens in New York in 2003. It is one of the plays that comprise the performance of Stein’s The Making of Americans, which will premier in 2005. How networks work Successful collaborative networks can be likened to comedy improvisation, where a group of actors devise a scene without recital and without a script, Grant McCracken says. Actors invent dialogue and action ‘on-the-fly’ for the very first time. In music, the result is called jazz. In the business world, improvisation usually occurs when we must respond quickly to something new. Many times we don’t have full knowledge of what has happened or how best to proceed. We must ‘seize the moment’, ‘pull something together’, ‘start somewhere’, and change course as more information becomes available. Grant McCracken offers several informal rules of successful collaborative networks that are adapted from the world of improvisation: //Give up ways you usually respond to a problem. //Don’t contradict what has previously been said. //‘Self-censoring’ makes the free flow of ideas impossible. //All possibilities exist. //Equally treat one another as the source of innovation.
Collaborative networks prove that invention can be generated by anybody with any background, which bodes well for the inventor in all of us.
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Anything becomes more real if you fight for it
Lane Michell
Accelerated fashion. Liberated design. This is GSUS, clothing designers from north Amsterdam who became fashion celebrities almost overnight. Capco employees spent a day in Holland trying out the notso-obvious combinations from GSUS’ latest collection. The designers work with deliberate contradictions to create an Capital 66
emotional charge around the clothes — an authenticity, a genuineness that is at the same time both individualistic and universal. Re-creating the familiar is a new approach to fast-forward thinking. It’s a concept that is naturally Capco.
Bruno — Patrick — Alex
LAUNCHED photography Senta Kochanek | Chris De Backer
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Left Kay — Laurence Bruno — Laurence — David — Elisabeth Nasica — Kay — Alison — Laurence — Elisabeth — Bruno Nasica Right
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Patrick — Alison
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Elisaneth
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Bruno — Elisabeth — David Patrick Elisabeth — Laurence Alison — Laurence
David Dessers Legal Counsel Patrick Van Gaelen Financial Controller Alex Marin Business Consultant Nasica Benali Recruiter Alison Cherrett Internal communications Laurence Boxus Assistant Elisabeth De Witte Receptionist Kay Hellmich IT-support Bruno Kegels Business Consultant
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Patrick — Alex
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Janus, the Roman god of beginnings, could look into the past while seeing into the future. We asked five Capco employees from around the globe, “How do you view time?”
I don’t want to see work as a job or as a career. I want my work to be my mission. A mission is timeless. Marian Claes, Coordinator Media and Marketing Benelux, Antwerp, Belgium
So, what is time now? If nobody asks me, I know what it is; however, when somebody is asking me and I should explain, I do not know what it is. (St. Augustinus) Jorn Grimmer, Principal Consultant, Frankfurt, Germany
Time is the first thing I think about when I wake up, and it’s something that I track while I’m sleeping. It tells me when to wake up, and when to catch the bus. When I get to work I figure out how I’m going to spend the next 540 minutes until it’s Time to go home. When I get home from work I think about how much time I have before it’s Time to go to sleep and how I’m going to spend it. At the end of every workweek, I have to record my Time. In the six years since I graduated from University, I’ve noticed that Time has become something I think about all the time. It’s something that I’m always racing against, always trying to free up. I just looked at my desk and saw the Time in three places: my phone, my cell phone, and my pc. Now, I know why I don’t wear a watch. I could go back and review what I just wrote, but I don’t have the Time. Jonathan Weiner, Business Consultant, New York, U.S.
Time is all about that one shining moment when you reach deep inside, for that one shining moment when you were willing to try... to reach for the sky. Greg Alkhas, Business Analyst, Tokyo, Japan
Time is an elusive concept. When you are looking forward to a particular moment in time, minutes and hours drag by. But then suddenly the moment is here — and then gone, as if it never was. What purpose has it served? You ask yourself. Does it matter that it happened at all? Fleetingness is after all the essence of time. But then there are those rare moments when we truly experience time as it passes: we have a preternatural awareness in the moment, about its significance, large or small, in isolation and in the overall scope of things. We experience the simple pleasure of it. Call this Wisdom, call this Passion, call this Vision — this is what makes Time worthwhile. Te-Hsing Niu, Business Consultant, San Francisco, U.S.
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vibrant
A vibrant new financial industry is coming to life. One where technology drives efficiency and the customer is the engine of profitability. Capco is the first services and technology solutions provider exclusively focused on forming the future of the financial services industry. Our mission calls for a new generation of employee — people who have the vision and practical skills to create change. When you join Capco, you become part of energetic, informationrich work environment. One that perpetually challenges employees with new ideas and projects, both here and abroad. So you can move from thinking about the future to being the future. For more information, please visit us at www.capco.com
© 2002 The Capital Markets Company. Capco and the Capco logo are trademarks of The Capital Markets Company. For more info: www.capco.com. This picture is part of the Capco collection. (©Young Photographers United - www.ypu.org)
HIDDEN TREASURES
New York / Paris / London / Antwerp / Frankfurt / Singapore
New York PATRICIA CHIN Business Consultant Capco New York 120 Broadway, 15th and 29th Floor New York, NY 10271
Bowlmor Lanes Bowl, drink, eat, people watch and bowl again. The more you drink the better you’ll bowl Favorite haunts: ◊ Bowlmor Lanes 110 University Place (Union Square), New York, NY 10003 ◊ The Duplex 61 Christopher Street (7th Avenue), New York, NY 10014 ◊ Celebrity Softball The Great Lawn, Central Park (mid-Park close to the reservoir), New York ◊ The Pen-Top Bar & Terrace The Peninsular Hotel, 700 Fifth Avenue (55th Street), New York, NY 10019-4100
Frankfurt CHRISTIAN TOFFLINGER Business Consultant Capco Frankfurt Messeturm Friedrich-Ebert-Anlage 49 60308 Frankfurt am Main Museum für Moderne Kunst Have a drink on the ground floor for a starter. Favorite haunts: ◊ Museum für Moderne Kunst Domstraße 10 60311 Frankfurt am Main ◊ Grüneburgpark Siesmayerstr./Grüneburgweg, D-60323 Frankfurt ◊ Suppenküche Weißadlergasse 3 D-60311 Frankfurt ◊ Orfeos Erben Hamburger Allee 45 D-60486 Frankfurt ◊ Kleinmarkthalle Hasengasse 5-7 D-60311 Frankfurt ◊ Sneaker King (original 70s-90s sneakers) Holzgraben 11 D-60313 Frankfurt
London Capco London Clements House 14-18 Gresham Street EC2V 7JE, London Docklands A way of living. Thriving bustle and commerce with waterside views, a great river at the revived heart of the city.
◊ Docklands, Canary Wharf, 1 Canada Square, E14, London ◊ East End markets, Roman Road market, Mile End E3, London ◊ Brick Lane Market, Shoreditch, E1 ◊ Walthamstow Market, E17, London ◊ The London Eye Jubilee Gardens, South Bank, SE1 1GZ, London
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HIDDEN TREASURES
New York / Paris / London / Antwerp / Frankfurt / Singapore
Paris CEDRIC NEUVILLE Business Consultant Capco Paris 112 Avenue Kléber F-75784 Paris Cedex 16
Singapore
L’appart Quiet, confidential dining in the intimate atmosphere of a converted upper-floor apartment, with a view over Parisian roofs.
FLORA KOH Business Analyst UOB Plaza 1 80 Raffles Place Singapore 048624
Favorite haunts ◊ L’appart restaurant Rue du Colisée 9, F-75012 Paris ◊ OPA restaurant/club Rue Biscomet 9, F-75012 Paris ◊ China Club restaurant Rue de Charenton 50, F-75012 Paris
Indochine The bar downstairs and cosy restaurant upstairs have both won design awards. Favorite haunts ◊ Indochine Empress Place 1, Singapore 179555
◊ Salvador Dali’s ‘Homage to Newton’ statue, Raffles Place 80, UOB Plaza 1, Singapore 048624 ◊ Dome Café, Singapore Art Museum, Bras Basah Road 71, Singapore 189555 ◊ Chijmes Victoria St 30, Singapore 187996 ◊ Maharaja’s Curry Club Boat Quay 31, Singapore 049820 ◊ Lush (watering hole) 01-75 UE Square, Singapore
Antwerp ERIC BOHNER Partner Capco Antwerp Groenenborgerlaan 16 B-2610 Wilrijk Antwerp zoo Animals and nature, children and wonder, a pressurefree zone, escape from stress in the middle of town. Favorite haunts ◊ Antwerp Zoo Koningin Astridplein 26, B-2060 Antwerp
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◊ The Bar room Leopold de Waelplaats 30, B-2000 Antwerp ◊ Chilli Club De Burburestraat 43 (Leopold de Waelplaats), B-2000 Antwerp ◊ De Welcome corner Noordschippersdok/ Samberstraat, B-2060 Antwerp ◊ Bitter Peeën Yzerlaan 26, 2060 Antwerp ◊ Den Abbatoir Lange Lobroekstraat 65, B-2060 Antwerp
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Rycharde Hawkes. hp labs.
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